Iran General NewsIran says Indian oil funds freed in Germany -agency

Iran says Indian oil funds freed in Germany -agency


Reuters: Iran has secured the release of some funds that India had paid for Iranian oil and that had been frozen in Germany, a news agency reported.

TEHRAN, April 29 (Reuters) – Iran has secured the release of some funds that India had paid for Iranian oil and that had been frozen in Germany, a news agency reported.

“When Iran sells its oil to a country, it should be able to receive the payments,” the Central Bank of Iran’s governor, Mahmoud Bahmani, was quoted as saying by Iran’s semi-official Mehr news agency.

“One of these transactions was related to India, which had to pay for Iran’s oil … but Germany blocked the money. A part of this money which had been blocked, has been released now and the rest will be released in the future,” Bahmani said, without giving further details.

In December, the Reserve Bank of India (RBI) said that oil trade payments to Iran could no longer be settled using a long-standing clearing house system run by regional central banks.

The White House, which wants governments to stop dealing with Iran because of its nuclear programme, praised the move.

Iran already faces sanctions from the United Nations over its nuclear programme, and though the sanctions do not ban purchases of crude oil, Washington has been lobbying governments and companies to stop dealings with Tehran.

Germany agreed in March to help India settle payments to Iran via Hamburg-based Europaeisch-Iranische Handelsbank (EIH, European-Iranian Trade Bank) but later announced that handling the money through the bank had been halted.

The move followed discussions between Chancellor Angela Merkel and the Indian government in which India said it was moving to a new payment method, a German official said earlier this month.

India pays some 9 billion euros ($12.77 billion) a year for purchases of Iranian oil.

The United States, Israel and the European Union suspect Iran is seeking to acquire atomic weapons. The Islamic state denies the allegations and insists its programme is for peaceful energy needs. (Writing by Ramin Mostafavi; Editing by Anthony Barker)

Latest news

Iranian Regime Presidency Servers Taken Over By Dissidents, Exposing Regime Vulnerabilities

In a significant security breach, the official website of the Iranian regime’s presidency was taken over by Iranian dissidents...

Abolfazl Amir Ataei, 16, Dies After 8 Months In A Coma

Abolfazl Amir Ataei, a 16-year-old teenager in the Iranian capital of Tehran, died on Friday, May 26, after being...

Iran’s Regime’s New Hijab Bill Seeks to Silence Women

On May 21, Ebrahim Raisi’s government approved and sent a bill on "Chastity and Hijab" to Iran’s Parliament (Majlis)....

Iranian Opposition Condemns Release of Tehran’s Convicted Diplomat-Terrorist Assadollah Assadi

The recent prisoner exchange between Belgium and Iran, announced by the government of Oman, has sparked strong condemnation from...

World leaders call on Biden to adopt new Iran policy

In a joint letter, 109 former world leaders signed a letter calling for accountability in Iran and urging U.S....

The Unsettling Child Marriage Epidemic Sweeping Iran

The horrific scene of a man holding the severed head of his 17-year-old wife, Mona Heydari, in southwest Iran,...

Must read

Iran lambastes German minister for linking Ahmadinejad with terrorism

Iran Focus: Tehran, Jul. 19 – Iran reacted sharply...

Iran says will give response on nuclear deal Thursday

AFP: Iran will probably give its formal response Thursday...

You might also likeRELATED
Recommended to you